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Results: 1-10 of 403

BP update: breakdown of Gulf Coast Claims Facility claim payments

  • Locke Lord LLP
  • -
  • USA
  • -
  • November 18 2010

The Gulf Coast Claims Facility ("GCCF") has issued a report containing updated data on claims payments made as of November 17, 2010

New York adopts revisions to Regulation 118 governing audited financial statements

  • Locke Lord LLP
  • -
  • USA
  • -
  • January 12 2010

On December 28, 2009, the New York Insurance Department ("NYID") issued a Notice of Emergency adoption revising Regulation 118 to implement new audit and reporting standards on an emergency basis

District court finds that the Federal Arbitration Act preempts state statute barring out-of-state arbitrations

  • Locke Lord LLP
  • -
  • USA
  • -
  • September 14 2010

In Binder v. Medicine Shoppe International, Inc., No. 09-14046 (E.D.Mich. 2010), a breach of contract dispute between the plaintiff (a franchisor) and the defendant (a franchisee) arose out of a Uniform Franchise Offering Circular and subsequent License Agreement (“Agreement”

NY court: insured may recover consequential damages absent insurer bad faith

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 23 2009

On December 15, 2009, New York's Appellate Division for the First Department held that an insured need not allege or prove that its insurer acted in bad faith in order to recover consequential damages stemming from the insurer's breach of the policy

Federal court finds that fraud claim is not arbitrable

  • Locke Lord LLP
  • -
  • USA
  • -
  • August 4 2010

In a decision by the United States District Court for the Southern District of New York, AXA Versicherung AG v. New Hampshire Ins. Co., 05 Civ. 10180 (JSR) (S.D.N.Y. 2010), the court held that certain fraud claims were not a matter of contract interpretation and, therefore, not arbitrable under a provision in a facultative reinsurance agreement that provided for arbitration of disputes “arising out of the interpretation of this agreement.”

New Jersey trial court cannot apportion defense costs based on claimed damages, but must apportion based on the reasonable value of the legal services rendered in defending the respective claims

  • Locke Lord LLP
  • -
  • USA
  • -
  • February 17 2010

The New Jersey Appellate Division in William H. Hall Co. v. Harleysville Ins. Co. of NJ (October 13, 2009) reversed and remanded a trial court’s decision in a declaratory judgment action following summary judgment motions made by the parties

Court denies Wells Fargo’s motion to dismiss on statute of limitations grounds

  • Locke Lord LLP
  • -
  • USA
  • -
  • June 10 2010

The United States District Court for the Northern District of California recently granted in part and denied in part motions to dismiss a class action brought by a class of purchasers of mortgage pass-through certificates

Massachusetts court reaffirms general liability insurers’ broad duty to defend

  • Locke Lord LLP
  • -
  • USA
  • -
  • June 22 2010

The Massachusetts Appeals Court recently reaffirmed that jurisdiction's broad understanding of a general liability carrier's duty to defend, holding that an insurer had a duty to defend against a claim of trespass first asserted after the expiration of its policy period

Connecticut Attorney General wins in landmark contingent commissions case

  • Locke Lord LLP
  • -
  • USA
  • -
  • May 10 2010

In a first-of-its-kind victory for a state attorney general, the office of Connecticut Attorney General Richard Blumenthal won its case against an insurance brokerage whom the court found to have failed to disclose to consumers the contingent commissions it received from certain insurers

Massachusetts Supreme Judicial Court defines contours of statute regulating indemnification (but not insurance provisions) in lease agreements

  • Locke Lord LLP
  • -
  • USA
  • -
  • May 18 2010

The Massachusetts Supreme Judicial Court recently held that G.L. c. 186 15, which makes void any indemnification agreement or provision whereby a tenant is obligated to indemnify a landlord, in whole or in part, for the landlord’s own negligence, does not apply to insurance provisions in the lease agreement